Crypto.com Partners with Trump Media to Launch TMTG-Branded ETFs

Crypto.com has revealed a new strategic partnership with Trump Media & Technology Group (TMTG) and Yorkville America to launch a suite of exchange-traded funds (ETFs) focused on both digital and traditional financial assets. Announced on March 24, these TMTG-branded ETFs will lean heavily into the cryptocurrency realm, featuring Bitcoin, Crypto.com's native Cronos (CRO) token, and other digital currencies. This move represents another crypto-related venture involving former US President Donald Trump, who has dabbled in multiple crypto endeavors, including launching NFT collections and a DeFi project called World Liberty Financial (WLFI). However, the announcement is not without controversy. On-chain investigator ZachXBT has openly questioned TMTG's choice to collaborate with Crypto.com amid the latter's recent criticism stemming from the reissuance of 70 billion CRO tokens that were burned in 2021. This reissuance, equating to 70% of the total CRO supply, raised concerns over centralization and transparency. Crypto.com's CEO, Kris Marszalek, defended this decision, stating it was a response to shifting political conditions and growing institutional interest in crypto. In financial markets reflection, shares in Trump Media jumped by 5.7% following the ETF collaboration news. Before the announcement, Trump Media stocks, associated with the Truth Social app, were down by approximately 40% due to investor concerns over Trump's proposed tariffs potentially exacerbating inflation. Additionally, Trump Media's financial health appeared bleak, reporting a massive $400 million loss amidst $3.6 million revenue in 2024. World Liberty Financial, another Trump-endorsed crypto initiative, plans to issue a stablecoin, USD1, backed by the United States government debt, further diversifying Trump's digital asset ventures. This partnership underscores the ongoing convergence between traditional finance and blockchain technologies. However, the decision for TMTG to partner with Crypto.com rather than more mainstream exchanges like Coinbase, Kraken, or Gemini, remains debated due to transparency issues. Artificial intelligence reviewed and analyzed this article.